MyPetrolPump to raise funds from central initiative    

Bengaluru, Oct 30 (PTI) City-based startup MyPetrolPump  today said it was keen to avail benefits under a central government initiative to raise...

Published: 30th October 2017 06:40 PM  |   Last Updated: 30th October 2017 07:00 PM   |  A+A-

By PTI

Bengaluru, Oct 30 (PTI) City-based startup MyPetrolPump  today said it was keen to avail benefits under a central government initiative to raise funds for extending their technology solutions to detect and prevent fuel adulteration.

"Last week, the central government had unveiled a Rs 320 crore fund to support startups in the oil and gas sector. We are keen on availing funds to extend our technology solutions to detect and prevent fuel adulteration.We want to raise about Rs 50 lakh for the purpose," MyPetrolPump CEO Ashish Kumar Gupta told PTI here.

MyPetrolPump claims it is the first startup in India to run diesel door delivery (refuelling) business.

Oil Minister Dharmendra Pradhan had unveiled the Rs 320-crore fund last week to help promote innovation and new business models in the oil and gas sector.

Gupta said MyPetrolPump's initial prototype testing results had shown significant promises to detect blue kerosene adulteration in diesel fuel.

"We are further extending the solution for all variants of diesel and kerosene blends for flow rates as low as 1 litre per minute to 2,000 litre per minute," he said.

The technology would not only solve diesel adulteration  problem for Oil Marketing Companies,but also protect consumers from getting adulterated fuel into their equipment,Gupta said.

The startup has helped more than 300 apartment complexes in Bengaluru get their diesel gen sets refuelled safely on time.

"We have supplied more than 50,000 litres so far," he added.

"With our direct-to-equipment state-of-the-art refuelling  system, these 300 plus apartment associations have saved  average diesel pilferage of Rs 2.4 lakh on monthly basis that  was happening during diesel transportation or loose storage in jerry cans and drums earlier," he added.

The deliveries were stopped for two months, from July to  August end, after Petroleum and Explosives Safety Organisation (PESO) directed state-run OMCs and private retailers not to sell fuel, citing "safety." ANB Fuels, under the brand MyPetrolPump, had launched its operations from June 18 with three delivery vehicles, each  with a capacity of 950 litres, but had to suspend the delivery within four days of launch due to a PESO circular to oil companies to stop providing fuel to it.

Replying to a query, Gupta said the startup resumed operations in September as it believes the firm is completely a legal entity adhering to the existing guidelines and rules under the petroleum act.

"We welcome government's approach towards bringing specific guidelines, which will allow doorstep delivery model to be implemented across India by several other startups like us," he said. PTI BDN RA APR APR .

This is unedited, unformatted feed from the Press Trust of India wire.

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